The global automotive metals market size reached USD 102.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 148.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.02% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 102.1 Billion |
Market Forecast in 2033
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USD 148.2 Billion |
Market Growth Rate 2025-2033 | 4.02% |
Automotive metals are raw materials used to manufacture different parts of vehicles, such as bodies, wheels, chassis, panels, and doors. They comprise aluminum, steel, magnesium alloys, copper, plastics, composites, rubber, glass, leather, and carbon fiber reinforced polymer (CFRP). They are easy-to-weld materials that can be cut and joined with conventional welding equipment and techniques. They are highly durable and cost-effective and assist in improving the fuel efficiency of vehicles. Automotive metals also aid in reducing the weight of vehicles and providing safety to drivers and passengers. Besides this, they offer thermal, chemical, and environmental resistance to vehicles for increasing their shelf-life.
At present, there is a rise in the demand for personal vehicles to cover distances between home, work, educational institutions and shopping malls across the globe. This, along with the burgeoning automobile industry, represents one of the key factors driving the market. Besides this, governments of several countries are undertaking initiatives to enhance the manufacturing capabilities of vehicles. They are also focusing on promoting the usage of environment-friendly materials to reduce carbon footprints. Moreover, the growing utilization of lightweight materials, such as aluminum and magnesium, in manufacturing car components, body structures, and power trains is positively influencing the market. In addition, the rising demand for sports cars among the masses is offering lucrative growth opportunities to industry investors. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce various metals that help reduce the weight of the vehicle and greenhouse gas emissions. Additionally, the increasing employment of steel to manufacture various parts of vehicles due to its high strength and affordability is contributing to the growth of the market. Furthermore, the growing application of advanced technologies, such as 3D printing, in manufacturing various vehicle components is offering a positive market outlook.
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive metals market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on product, application and end use.
Breakup by Product:
Breakup by Application:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allegheny Technologies Incorporated, ArcelorMittal S.A., JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc. (Hindalco Industries Limited), Nucor Corporation, POSCO, Tata Steel Ltd, Thyssenkrupp AG, United States Steel Corporation and Voestalpine AG.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Product, Application, End Use, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Allegheny Technologies Incorporated, ArcelorMittal S.A., JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc. (Hindalco Industries Limited), Nucor Corporation, POSCO, Tata Steel Ltd, Thyssenkrupp AG, United States Steel Corporation and Voestalpine AG. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global automotive metals market was valued at USD 102.1 Billion in 2024.
We expect the global automotive metals market to exhibit a CAGR of 4.02% during 2025-2033.
The rising utilization of automotive metals, as they assist in reducing the weight of vehicles and providing safety to drivers and passengers, is primarily driving the global automotive metals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for automotive metals.
Based on the product, the global automotive metals market can be divided into aluminum, steel, magnesium, and others. Currently, steel accounts for the majority of the global market share.
Based on the application, the global automotive metals market has been segregated into body structure, power train, suspension, and others. Among these, body structure currently exhibits clear dominance in the market.
Based on the end use, the global automotive metals market can be bifurcated into passenger cars, light commercial vehicles, and heavy commercial vehicles. Currently, passenger cars hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global automotive metals market include Allegheny Technologies Incorporated, ArcelorMittal S.A., JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc. (Hindalco Industries Limited), Nucor Corporation, POSCO, Tata Steel Ltd, Thyssenkrupp AG, United States Steel Corporation, and Voestalpine AG.